Common use of Pledge of Interest Clause in Contracts

Pledge of Interest. (A) Except as contemplated by Section 10.5.(B) and Section 11.1., no Partner shall mortgage, pledge, encumber or create or suffer to exist any pledge, lien or encumbrance upon, or security interest in ("pledge"), all or any part of its Interest (such term, as used in this Section 10.5., including any Profits Interest). Any attempt by a Partner to pledge all or a portion of its Interest in violation of this Agreement shall be void ab initio and shall not be effective to pledge such Interest.

Pledge of Interest. (A1) Except as contemplated by Section 10.5.(B) and Section 11.1., no Partner shall mortgage, pledge, encumber or create or suffer to exist any pledge, lien or encumbrance upon, or security interest in ("pledge"), all or any part of its Interest (such term, as used in this Section 10.5., including any Profits Interest). Any attempt by a Partner to pledge all or a portion of its Interest in violation of this Agreement shall be void ab initio and shall not be effective to pledge such Interest.